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Which of the following is correct about a corporation's statutory agent?

They must always be a resident of the same state as the corporation.

They do not need to be an attorney.

A corporation's statutory agent, often referred to as a registered agent, serves as an official point of contact for legal documents, tax notices, and other important correspondence. The primary requirement for a statutory agent is to be available during regular business hours to receive service of process.

The correct choice highlights that a statutory agent is not required to be an attorney. In many states, including Arizona, individuals or business entities can serve as statutory agents, as long as they have a physical address in the state and are accessible during business hours. This flexibility allows corporations to appoint someone who can effectively manage their legal notifications without the necessity of hiring an attorney, which can be a more costly option.

It's important to understand that while a statutory agent does have significant responsibilities, such as ensuring that legal documents are received and processed in a timely manner, they are not responsible for filing corporate taxes—this is typically the responsibility of the corporation itself. Thus, the assertion in the correct choice aligns with the statutory definitions and practices concerning the roles and responsibilities of a statutory agent within corporate structure.

They are responsible for filing all corporate taxes.

They must be an attorney by law.

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